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The board of Triveni Engineering & Industries on Monday approved ₹64.99-crore buyback of fully paid-up equity shares. The company plans to buyback 61.90 lakh shares at ₹105 a share. The offer would be on a tender offer route. The board noted the intention of the promoters and promoter group of the company to participate in the buyback.
The board has fixed August 28 as the record date for determining the eligible shareholders to participate in the buyback. Shares of Triveni Engineering closed at ₹71 on the BSE.
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